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<br />MORTGAGE
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<br />83';;;' 005344
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<br />This Mortgage is entered Into between RlIlIsrH & SONS, INC.
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<br />(lierein"Mort~or'~)and
<br />Nebra5Ka~~,
<br />OVF.RT.AND NATIONAL BANK OF GRAND ISLAND, Grand Island(hereinf'~~eel').c
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<br />Mortgagor is indebted to Mortgagee in the principal sum of $1 7 5,000. 00, e\lidencedbYMortgag~r's';bte
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<br />datedO('rnnpr 4 1 'lg 1 (herein "Note") providing for payments of principal and interest,.with:the.ballince'ofthe
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<br />indebtedness, if notsooner paid, due and payable on October 5, 1986
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<br />'cc~""ti;:-tlr'~ Note, with interest as providedthereil1, the payment of aU otlier sums, with intl!r~$t".
<br />e security of this Mortgage, and the performance of the covenants andag>:eem,,!,ts 1>f :
<br />rtgagor does hereby mortgage and convey to Mortgagee the, fOllowing 'described'
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<br />property located in Hall County, Nebraska:
<br />The East Forty Feet (40') of Lots Five (5) and Six (6), and All of
<br />Lots Seven (7), Eight (8), Nine (9), Ten (10), Eleven (11), and Twelve
<br />(12), Block Six (6), of the Original Town of Cairo, HallCountYi
<br />Nebraska, and The East Ninety (90) Feet of Lots One(l) and Two, (2) ,
<br />and All of Lots Three (3) and Four (4), in Block Six (6) , in the,
<br />Original Town of Cairo, Hall County, Nebraska, except a certain
<br />parcel of land recorded in Document No. 83-003316.
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<br />Transfer of Property. If all or any partof the Property or any i~terest
<br />of Mortgagor therein is sold, transferred or further encumbered wlthout
<br />the express written consent of the Mortgagee, Mortgagee may, at its, .sole
<br />option, declare all sums secured by this Mortgage to be j,mmediatelY due
<br />and payable.
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<br />To~ther with all buildings~ improvements, fixtures, streets, alleys, passage-ways, easements, rights, privileges and
<br />appurtenances located thereon or in anywise pertaining thereto, and tht> rents issul:'S and profits, reversions and'remainders
<br />thereof; including; but not limited to, heating and cooling equipment and such personal property that is attacbed to tbe
<br />improvements. so_as to constitute a fixture; all of which, including replacements.and additions thereto, is hereby. declared
<br />to be a part of the real estate secured by the lien of this Mortgage and all of the foregoing being referred to herein as the
<br />"Property",
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<br />Mortgagor further convenants and agrees. with Mortgagee.., follows:
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<br />1. Payment. To pay the indebtedness and the intpretlt thereon as provided in this. Mortgage and the Note.
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<br />2, Title. Mortgagor is the owner of the Property, has the right and authority to mortgage the Property, and
<br />wammts'.that. the lien created hereby is a first and prior lien on lht' Property. excppt as may otherwise be, set forth herein.
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<br />o The Property is subject to a Mortgage wherein ---- ,.-.., '
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<br />is the Mortgagee, recorded at Book _ . Page _,~" _.,., of the Mortgage Records of
<br />Nebraska, which Mortgage is a lien prior to the lien C'rt'ah:'d h~r('by.
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<br />County,
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<br />o Othe!: prior liens or encumbrances:~____.__.___~_~____,___.
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<br />3. Taxes, As$eSsments, To. pay when dUe all taxes, special assessments and all other charges against the Property
<br />lI\ld, upon written demll\ld by Mortgagee, to add to the payments requiredunder the Note secured hereby , such amount as
<br />IDl\Y, be sufficiel!t to..enable the Mortgagee to pay such taxes, assessments or other charges as they become due.
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<br />4. In~ce. To keep the improvements now or hereafter located 'on the real estate described ,herein insured
<br />.agaiiJst damageJ"y fire and such other hazards as Mortgagee may require, in amounts and with companies acceptable to the
<br />Mprtgagee,l1\ld. wit\lloss payable to the Mortgagee. In case of ioss under such policies tbe Mortgagee is autborizedto
<br />adj~+i collect and c<\lllpl;Omise,. in its discretion, all claims .thereunder at its sole option, authorized to either apply the
<br />PrOpeeds,tQtiteresto.:ation .of the Property or upon the indebtedness se.cured hereby. but payments hereunder shall con.
<br />ti!l!!e..unJilthesUllll;securedhereby Ill:<! paid in full.
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<br />1;,. D.EscrQw ForT!",!,s and InsllrlUlee. Notwitbstanding anything contained in paragraphs 3 and 4 hereof to the
<br />eOl,ltrSry,Mc>ttgagor, sital1pa)'t? the Mortgagee at the. time of paying the monthly installments of principal and interest.
<br />olie.t.velft/lof'theyea,rlyta;Ws, asseSSll!ents,hazard in~urance premiums. and ground rents (if any}which may attain a
<br />jitiotit~<)YertbIS'~i'~~ag~, all... reasonably estimatedfroDl. timetotime by the Mortgagee. The amounts so paid sball be
<br />h~idbx:91e: Mf)rtga~e~Witho~t,i\l~rest.al1daPI!Jjedtothe,paY!'lentof the. items in respect to which such amounts were
<br />di'P~.The,~~pai!l:t"M~aglll!. h~re'ind~rarePledged. as a<!ditlonal security .for tbe indebtedness secured by this
<br />~4~, ,~rt~<i~silaI.1 pl!)' to Mortgagee theamouljt.ofal1ydeficien<;y ,between the .ac\ual taxes, assessments, Insurance
<br />:1l""ini!i;i1s, and gi<)ulj<!ren\s,'andt\le<\epo~its bereunder within IU days after demand is made upon Mortgagor requesting
<br />pl!ymentc thereP!: .
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<br />...' . ,6. Re~r.MainW~:l!Ild:lJ"",To prpmptly repair, restore or rebuild allY buildings or improvements now or
<br />lJereJjf~~o,l1t!*Pm~ij.y; to~eJ> t\1eProperty .ingol>>i conditioll.lI\ld repAir, witbout waste, and free from m.echanic's or
<br />QlI!!'1'Jje,~.D9te"Prel\SlysuJ>otdiJ)aledtothe,lIell~reQ!; Ilotto make. suffer or permit any nuisance to exist, nor to dimin-
<br />iBbofimpairt!'t".Val\\eoftheProperty by anY8J;tor ollljs(;ion to act; andtocoD\ply with all requirements of law with
<br />IJ!Ill'e"tlo tllel'toperty. .
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